Canva, now valued at $3.2 billion, launches an enterprise product

Canva, the Australian-based design tool maker, has today announced that it has raised an additional $10 million to bring its valuation to $3.2 billion, up from $2.5 billion in May.

Investors in the company include Mary Meeker’s Bond, General Catalyst, Bessemer Venture Partners, Blackbird and Sequoia China.

Alongside the new funding and valuation, Canva is also making its foray into enterprise with the launch of Canva for Enterprise.

Thus far, Canva has offered users a lightweight tool set for creating marketing and sales decks, social media materials, and other design products mostly unrelated to product design. The idea here is that, outside of product designers, the rest of the organization is often left behind with regards to keeping brand parity in the materials they use.

Canva is available for free for individual users, but the company has addressed the growing need within professional organizations to keep brand parity through Canva Pro, a premium version of the product available for $12.95/month.

The company is now extending service to organizations with the launch of Canva for Enterprise. The new product will not only offer a brand kit (Canva’s parlance for Design System), but will also offer marketing and sales templates, locked approval-based workflows, and even hide Canva’s massive design library within the organization so employees only have access to their approved brand assets, fonts, colors, etc.

Canva for Enterprise also adds another layer of organization, allowing collaboration across comments, a dashboard to manage teams and assign roles, and team folders.

“We’re in a fortunate place because the market has been disaggregated,” said Canva CEO and founder Melanie Perkins. “The way we think about the pain point consumers have is that people are being inconsistent with the brand, and there are huge inefficiencies within the organization, which is why people have been literally asking us to build this exact product.”

More than 20 million users sign into Canva each month across 190 countries, with 85 percent of Fortune 500 companies using the product, according to the company.

Perkins says that the ultimate goal is to have every person in the world with access to the internet and a design need to be on the platform.


By Jordan Crook

Posted in Software Development and tagged , , , , .